May 2009 :: Report

Debt Reduction

Here is what our goals for May were:

Credit Card Debt  ::  $44,015.18
Taxes Owed           ::   $   4,316.83
Personal Loans    :: $  5,400.00

Total Debt*            ::  $53,732.01

And here is where we were after 5.31.09:

Credit Card Debt  ::  $44,015.18
Taxes Owed            ::   $   4,383.33
Personal Loans    ::   $   5,399.83

Total Debt*            ::  $53,798.34

Our goal was that we would pay $3,145 toward debt, with a net reduction of $2,674. We were only $67 short of that goal this month – that was very exciting! That brings us to over $7,500 in debt reduction since 2.26.09!!!!


We spent $174.92 more than we had budgeted (wayyyyy too much dining out and we did a mini-vacation on Memorial Day),  so make sure that we are tighter on our spending. I’m on a break from grad school for the summer, so I’ll be able to do a lot more at-home cooking, so that should really help.


This was exciting progress this month – we have over $120 in our savings account and I opened an account at a credit union to start saving in two different categories (Paternity Leave and Emergency Savings). I’ll be adding to those automatically each month starting in July.


What's your thought?

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s